4 ms·

My 2cents: to lower the onboarding, would be great to set it to get notification about what /would/ be bought or sold; eventually users will trust the system an

My 2cents: to lower the onboarding, would be great to set it to get notification about what /would/ be bought or sold; eventually users will trust the system and move some of their money to it.

danudey 6y ago
This is the thing I always think about with these kinds of systems, whether someone else's advice or do-it-yourself algos or "go here to find this information". If you follow the advice and record the trades you would have made, you can get an idea of if the advice is solid, and you can also get a hang for not panic-selling your first dip due to new-investor jitters. It also means that you won't follow crazy trends (like impulse-dumping everything into GME) because it's so obviously an outlier that it won't give you any useful data anyway. When I was in high school there was a faux-stock-trading website, they gave you ten thousand dollars in fake money and you could fake-buy stocks with it. A great way to play around with, and learn about, the stock market with zero actual risk or investment required. I ended up putting everything in Diamond Multimedia at $5 and pulling it out the next day at $6, then dumping the rest into eBay (within a month after their IPO IIRC) and forgetting about the website until one day I logged in and my investment was 10x. I patted myself on the back and never invested anything in anything again.
edoceo 6y ago
Yea, I make a tool that does this. So, my friends who use it just see the historical Actions (buy/sell) and price points. And one "trick" for backtesting is overlay SPX or SPY or DIA (or other favorite) with the results. Maybe it's obvious but folks new to the game are really helped by a comp to the market visual.
bonestamp2 6y ago
If they implement paper trading (as their survey suggests they're thinking about) then that should build the same level of trust. If your fake money is growing then you'll want to put real money in.
shireboy 6y ago
Most of these type things (quantopian is one I've tried) offer "paper trading" that is just that. You simulate it on "paper" until you gain confidence and use it to invest. I think the docs for this says they do as well

My 2cents: to lower the onboarding, would be great to set it to get notification about what /would/ be bought or sold; eventually users will trust the system and move some of their money to it.

danudey 6y ago

This is the thing I always think about with these kinds of systems, whether someone else's advice or do-it-yourself algos or "go here to find this information". If you follow the advice and record the trades you would have made, you can get an idea of if the advice is solid, and you can also get a hang for not panic-selling your first dip due to new-investor jitters. It also means that you won't follow crazy trends (like impulse-dumping everything into GME) because it's so obviously an outlier that it won't give you any useful data anyway. When I was in high school there was a faux-stock-trading website, they gave you ten thousand dollars in fake money and you could fake-buy stocks with it. A great way to play around with, and learn about, the stock market with zero actual risk or investment required. I ended up putting everything in Diamond Multimedia at $5 and pulling it out the next day at $6, then dumping the rest into eBay (within a month after their IPO IIRC) and forgetting about the website until one day I logged in and my investment was 10x. I patted myself on the back and never invested anything in anything again.

edoceo 6y ago

Yea, I make a tool that does this. So, my friends who use it just see the historical Actions (buy/sell) and price points. And one "trick" for backtesting is overlay SPX or SPY or DIA (or other favorite) with the results. Maybe it's obvious but folks new to the game are really helped by a comp to the market visual.

bonestamp2 6y ago

If they implement paper trading (as their survey suggests they're thinking about) then that should build the same level of trust. If your fake money is growing then you'll want to put real money in.

shireboy 6y ago

Most of these type things (quantopian is one I've tried) offer "paper trading" that is just that. You simulate it on "paper" until you gain confidence and use it to invest. I think the docs for this says they do as well